REAL ESTATE MARKET NEWS

The housing market has experienced 19 consecutive months of price growth, with February’s metrics showing steady appreciation despite fluctuating mortgage rates. Nationally, home prices have risen 8.8% annually since 2020, though they remain below the 2021 peak. Interest rates, which once hit record lows due to the Fed’s mortgage-backed securities purchases, have since surged but are now stabilizing near 6.5%. Home prices increased 5.61% year-over-year in Seattle, while inventory in the Northwest MLS remains tight despite an influx of new listings. February saw a 34% increase in housing inventory and a 10% rise in pending home sales, suggesting strong spring market activity. A 10-year historical review confirms that recent trends align with past seasonal patterns, providing valuable insights for buyers and sellers navigating today’s market.

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